Accounting concepts are sometimes unfamiliar to Salesforce users, and vice versa. Let's review some essential terms used in Accounting Subledger.
| Available in: Lightning Experience |
| Available in: Enterprise, Performance, Unlimited, and Developer Editions with Accounting Subledger |
- Accrual Accounting
- An accounting method that records income and expenses as soon as they're incurred or promised in good faith without waiting until they're received or paid. Payments are recorded as revenue when they're marked as paid or when the source record is marked as committed. Contrasts with cash accounting.
- Adjustment
- A debit or credit amount representing a change to a previous record of revenue or expense.
- Allocation (or Designation or Fund)
- A fund account that tracks money set aside for a specific use. Allocations let you split funds between one or more fund accounts when you record those funds as revenue or expenses.
- Cash Accounting
- An accounting method that records income and expenses only when the income is received or the expenses are paid. Payments are recorded as revenue when they're marked as paid. Payments that are promised but not yet paid aren't recorded. Contrasts with accrual accounting.
- Debits and Credits
- The side of the general ledger that reflects transaction-based activities. Assets add in the debit column and subtract in the credit column. Revenue adds in the credit column and subtracts in the debit column. The total amount of debits and credits must be equal in all ledgers.
- Double Entry Journal
- A ledger of accounting activity that includes the date, account, amount, and whether each transaction is a debit or credit. The left-hand side of the ledger is for debits, and the right-hand side is for credits.
- Fund Account
- A specific financial account in an accounting system typically identified with a unique code and a unique fund name recognizable to end users entering data in CRM.
- General Ledger (or GL)
- An organization's main record of financial activity that tracks the source and destination of all incoming, outgoing, and internal movements of funds.
- GL Code
- The general ledger label for indicating the source or destination of a transaction, such as General Fund, Cash, or Pledges Receivable.
- Payment
- In Accounting Subledger, a cash flow movement recognized as paid, that is with the corresponding checkbox selected on the source record.
- Refund
- A payment with a negative amount.
- Revenue
- Incoming funds, such as payments or donations promised or received.
- Revenue or Expense State: Committed
- Revenue or expense that's been promised and expected to be received. It can be partially paid.
- Revenue or Expense State: Received
- Revenue or expense that's been received.
- Reversal
- A negative transaction journal record that Accounting Subledger creates to apply an adjustment. A reversal has the same value as the transaction journal record that it's reversing, but is negative if originally positive, and positive if originally negative. For example, if you reverse a US$1000 payment that has multiple allocations, Accounting Subledger creates a group of transaction journal records whose total amount equals -$1000.
- Source Record
- An object record representing a transaction that you created or imported in Salesforce. After mapping it to accounting sets and running Accounting Subledger, we create transaction journal records for eligible transactions.
- Transaction Journal
- An Accounting Subledger object similar to journal entries. Transaction journal records are indelible snapshots of incoming and outgoing revenue and expenses, intended for accounting reports and systems.